VAS Latvijas Pasts ( en, Latvian Post) is the main

state-owned State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownersh ...

postal service The mail or post is a system for physically transporting postcards, letters, and parcels. A postal service can be private or public, though many governments place restrictions on private systems. Since the mid-19th century, national postal syst ...

provider in

Latvia Latvia ( or ; lv, Latvija ; ltg, Latveja; liv, Leţmō), officially the Republic of Latvia ( lv, Latvijas Republika, links=no, ltg, Latvejas Republika, links=no, liv, Leţmō Vabāmō, links=no), is a country in the Baltic region of ...

headquartered in

Riga Riga (; lv, Rīga , liv, Rīgõ) is the capital and largest city of Latvia and is home to 605,802 inhabitants which is a third of Latvia's population. The city lies on the Gulf of Riga at the mouth of the Daugava river where it meets the Ba ...

. It was founded on 2 January 1992, following shortly after the restoration of independence of the country.

History

Latvia Post was founded on 2 January 1992 as a state-owned company, prior to which multiple postal companies had already existed in the territory. On 1 November 2004, Latvia Post was re-registered simply as a state

joint-stock company A joint-stock company is a business entity in which shares of the company's capital stock, stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their share (finance), shares (certificates ...

instead of having the status of a

nonprofit organization A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...

state stock company. In 2014, Latvia Post partook in the transition from

lats Lats or LATS may refer to: * Latissimus dorsi muscle * Latvian lats, former currency of Latvia * Latin American Test Symposium of test and fault tolerance technologists * Landfill Allowance Trading Scheme, a UK scheme to reduce biodegradable waste ...

euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...

that took place in the whole country by providing

currency exchange A bureau de change (plural bureaux de change, both ) (British English) or currency exchange (American English) is a business where people can exchange one currency for another. Nomenclature Although originally French, the term "bureau de chang ...

services following the official exchange rate of 1.00 LVL for 1.42

EUR The euro (symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . Th ...

for 3 months in 302 post offices where it was deemed necessary due to local

banking service Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...

availability issues.

References

Communications in Latvia Companies based in Riga Postal organizations Government-owned companies 1992 establishments in Latvia {{service-company-stub

History

See also

References